Question

What significant principle did the Rochdale Pioneers develop that influenced global cooperatives?

• A. The Double-Entry System
• B. The Matching Principle
• C. The Going Concern Assumption
• D. Rochdale Principles

Answer 1

Answer:

D. Rochdale Principles

Rochdale Equitable Pioneers' Co-operative Society (REPS)

• Founded: 15 August 1844

• Started Business: 21 December 1844

• Place: Toad Lane, Rochdale, near Manchester, England

• Registered under: Friendly Societies Act, 1793

• Later gives legal recognition by: Industrial and Provident Societies Act, 1852

• Type: First successful consumer co-operative in the world

• Rochdale Pioneers principles becomes the basis for ICA principles in the year 1937.

Founders:

• Formed by 28 flannel weavers, including one woman (Antutale)

• Each contributed £1

• Met in 1843 in a chapel hall to plan the society

Key Leaders:

• President: Charles Howarth (also known as the Constitution Maker)

• Secretary: James Daly

• Trade Union Leader: Charles Howarth (organized the Rochdale Weavers’ Union)